PracticeAccounting FirmsDeloitte revenue grows 33%

Deloitte revenue grows 33%

Deloitte & Touche has revealed a 33% growth in annual revenue, with much of it down to the transaction with Andersen. The underlying growth rate was estimated to be between 5% and 10%, the firm said.

Link: Deloitte to start review of structure

Although the firm did not break up its figures, it showed total revenue had grown from £924m in 2002 to £1,228m in its current financial year.

The firm said: ‘The results reflect the Andersen transaction from August 2002, when over 3,000 partners and staff joined the firm.’

UK senior partner John Connolly told Accountancy Age that the integration had gone with a minimum of disruption, so the firm’s employees had been able to focus on clients. He added that this was one of the reasons why the firm’s fee income had not taken a hit despite the difficult economic environment.

Another important, yet controversial, development was the firm’s decision to keep Deloitte Consulting. Connolly said that retaining the consultancy arm had provided the company with an ‘unparalleled range of skills that will benefit the delivery of all our service to clients’.

And he said that, although there had been lower revenues in the consulting business, the firm had grown in other sectors to counterbalance the drop giving it the opportunity to become the biggest accountancy firm.

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

3d Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

4w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

2m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin